CATCo Reinsurance Opps Fund Ltd Resignation and appointment of chairman (2938Q)
November 05 2012 - 1:00AM
UK Regulatory
TIDMCAT
RNS Number : 2938Q
CATCo Reinsurance Opps Fund Ltd
05 November 2012
CATCo Reinsurance Opportunities Fund Ltd. ("the Company")
Director changes
To: SFM, London Stock Exchange Date: 5 November 2012
and Bermuda Stock Exchange
The Board of Directors of the Company (the "Board") wish to
announce that Mr Anthony Taylor, Chairman and non-executive
director, has resigned from the Board with effect from today.
Mr Taylor had advised the Board that his business interests
included an involvement with a small but growing portfolio of
collateralised reinsurance businesses that had the potential to
clash with the specialty reinsurance portfolio of the Company.
Accordingly, in order to avoid any future, actual or perceived,
conflict of interest he has today resigned from his appointments
with the Company.
Mr Taylor commented that "I am pleased to have played a role in
the launch and evolution of the Company, and I wish continued
success to the CATCo directors and management team."
As a result of Mr Taylor's resignation, the Board wish to
announce the appointment of Mr Nigel Barton as Chairman and
non-executive director of the Company effective today.
Mr Barton has extensive insurance and reinsurance experience
having working in the industry for 35 years. From 2002 to 2011, he
was the founder and Chief Executive Officer of Oxygen Holdings plc,
a specialist insurance broking business based in London, United
Kingdom. Between 1984 to 2002, Mr Barton was a director of DP Mann
Holdings Ltd ("DP Mann"), a Lloyds Managing Agency, which was
acquired by General Reinsurance Corporation/Berkshire Hathaway Inc.
in 1998. After DP Mann had changed its name to Faraday
Underwriting, Mr Barton had the role of Director of Underwriting,
and then ultimately Chief Executive Officer. From 1976 to 1984, Mr
Barton worked at Marsh, a global leader in insurance broking, where
his focus was on catastrophe reinsurance and retrocession
classes.
Mr. Barton holds a Masters in Business Administration, and has
performed various executive and non-executive committee and
director appointments within the Lloyds of London market. He is a
non-executive director of CRS Yachts, a specialist insurance broker
exclusively servicing the superyacht owner and industry.
Commenting on the appointment, Alastair Barbour, non-executive
director, said: "Given Nigel's substantial experience and knowledge
of the insurance and reinsurance industry, the Board are delighted
that someone of his calibre is joining the Board of Directors. He
will be a valuable addition to the Board of Directors."
For further information, please contact:
Jason Bibb
CATCo Investment Management Ltd
Telephone: +1 (441) 531 2227
Email: jason.bibb@catcoim.com
David Benda / Hugh Jonathan
Numis Securities Limited
Telephone: +44 (0) 20 7260 1000
John Whiley
Prime Management Ltd
Tel: +1 (441) 295 0329
- ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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